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Property

Property is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation. Depending on the nature of the property, an owner of property has the right to consume, sell, rent, mortgage, transfer, exchange or destroy it, or to exclude others from doing these things.
The Restatement of Property defines Property as any thing, tangible or intangible whereby a legal relationship between persons and the State enforces a possessory interest or legal title in that thing. This mediating relationship between individual, property and state is called as property regimes.
Important widely recognized types of property include real property, personal property, private property, public property and intellectual property, although the latter is not always as widely recognized or enforced. A title, or a right of ownership, establishes the relation between the property and other persons, assuring the owner the right to dispose of the property as the owner sees fit.

Chambers 20th Century Dictionary(0.00 / 0 votes)Rate this definition:

Property

prop′ėr-ti, n. that which is proper to any person or thing: a quality which is always present: any quality: that which is one's own: an estate: right of possessing, employing, &c.: ownership: (Shak.) individuality: (pl.) articles required by actors in a play.—v.t. (Shak.) to invest with certain properties: to make a tool of, appropriate.—adj.Prop′ertied, possessed of property or possessions.—ns.Prop′erty-man, -mas′ter, one who has charge of the stage properties in a theatre; Prop′erty-room, the room in which the stage properties of a theatre are kept; Prop′erty-tax, a tax paid by persons possessed of property, at the rate of so much per cent. on its value.—Movable or Personal property, property that may attend the person of the owner, movables; Private property, that which belongs to an individual for his personal disposition and use—opp. to Public property; Real property, lands, tenements, and hereditaments, real estate; Qualified property, the right a man has in reclaimed wild animals—also called Special property: such right as a bailee has in the chattel transferred to him by the bailment. [O. Fr. properte—a doublet of propriety.]

Dictionary of Military and Associated Terms(2.50 / 2 votes)Rate this definition:

property

1. Anything that may be owned. 2. As used in the military establishment, this term is usually confined to tangible property, including real estate and materiel. For special purposes and as used in certain statutes, this term may exclude such items as the public domain, certain lands, certain categories of naval vessels, and records of the Federal Government.